ALGO is a coin of a public cryptocurrency blockchain called Algorand. It is a self-sustaining, decentralized network that supports different types of applications. Algorand was created as a response to Bitcoin and other blockchains with relatively low speed of transactions. It aims to solve the following problems: security, scalability, decentralization. Beside the speed there are a number of other interesting features that distinguish Algorand network from other similar platforms. It has decentralized consensus, does not have forks, it has low computation requirements. All ALGO coin holders can propose changes to the network, they also can delegate their coins to participate in consensus.
ALGO coin statistics
Let’s take a look at some ALGO statistics represented on coinmarketcap.com
Crypto community about ALGO
Let’s take a look at the experts’ and community opinion about Algorand.
According to this we can conclude that the Algorand’s community sees a good perspective for the project.
ALGO price prediction 2021
Let’s take a look at the price prediction data from various services.
- TradingBeasts.com provides the following information about ALGO:
- The other service WalletInvestor.com shows the following data for the ALGO price:
- According to Digitalcoinprice.com this is the future of ALGO:
- One more service’s data we would like to share is a prediction of Longforecast.com (as of 30/03/2021):
Minimum ALGO price for 2021: $1.40
Maximum ALGO price for 2021: $3.87
Average ALGO price for 2021: $2.8
Year-end ALGO price predictions 2021:
Minimum expected: $3.26
Maximum expected: $3.75
Average expected: $3.5
ALGO price prediction 2023
According to Tradingbeasts.com ALGO will show an increase in price until the spring of 2023. Then a dip is expected. At the end of the year the price will start raising again.
For the year 2023 WalletInvestor.com predicts stable growth with no essential dips.
Digitalcoinprice.com does not see any price increases. It predicts that price will fluctuate around $3 without any strong moves.
This correlates with Longforecast.com prognosis. This service also sees fluctuations, however, at the price of $4.
ALGO price prediction 2024
Tradingbeasts.com shows a stable growth throughout the 2024. It is expected to go close to the price it has now.
WalletInvestor makes a very optimistic prediction for 2024. It expects the current price to grow six times higher to the end of the year.
According to the Digitalcoinprice.com fluctuation will intensify, but the price still will not go too far from $3.
Longforecast.com predicts a little dip at the beginning of the year, and growth up to $5 at the end of the year.
Historical price analysis of ALGO
Since Algorand appeared not so long ago, its way to the current level was not very saturated. And the price changes are primarily linked to the interest of the community to this new network. However, it has already shown some bullish and bearish trends. Let’s take a closer look at them.
- All Time High: $3.28 (Jun 21, 2019)
- All Time Low: $0.1024 (Mar 13, 2020)
The Algorand mainnet started in 2019. It has entered the market confidently. It started to trade at the price of $2.89. Unfortunately, till the end of 2019 the price fell to $0.23.
At the beginning of 2020 the bearish note was still strong. Until August the price was fluctuating below the resistance level. It was able to finish the year with the higher price of $0.33. Up to December 2020 the network showed the ability to handle 1 million transactions per day. In 2020 the network showed its abilities and became interesting to different kinds of investors. The second half of 2020 became a starting point for the growth of its price. Since then we can witness a progressive increase in its price without any serious turbulence.
Some analysts connect the price changes with the volatility of other cryptocurrencies. On the other hand, we can witness a formation process of a new project. It took some time to prove its reliability. At this moment it stands on the stable upgoing trend and probably will surprise us with higher prices and even better performance.
We hope that this article was useful for you and showed the basic tendencies in the ALGO price.
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.